Trades based on Market Geometry and Price Action | Page 26 | Forex Factory

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Trades based on Market Geometry and Price Action

  • #501
  • Jun 6, 2011 12:17am Jun 6, 2011 12:17am
ok. if you look at the eur/yen daily chart, you see that price have been ranging for a couple of adays, but the range finishes with a nice hammer alerting us we are at the begining of a nice move up. also the weekly eur/yen is showing a strengh to the upside...this is the same for gbp/usd, aud/usd . aud/usd trade was last week and still in it for nice profit
  • #502
  • Jun 6, 2011 12:20am Jun 6, 2011 12:20am
no the 2nd trade of the gbp/usd is a day trade. the stop loss is well placed below a pivot level. if you don't feel comfortable with 2hr charts, just wiat till 5 am (the close of the 4hr chart) to take the trade. this will confirm the trend taht started with the 2 hr charts...

cheers
  • #503
  • Jun 6, 2011 12:28am Jun 6, 2011 12:28am
Hey DK,

I think they mean from the first GBP/USD trade you popped up (6 hours ago).

Nice work with this thread!
  • #504
  • Jun 6, 2011 1:51am Jun 6, 2011 1:51am
hi dailyking. i feel obligued to contributing in here, looks a little quite and i think we can learn from each other. I also share the same point of view that we are in an uptrend. but i see my buys not just soon. possibly next 1-2hrs time, my target for entry should be around 1.6379-70. I see Daily pivit at 1.6379 breached. I feel we would rally from there to break 1.6458 which is daily high.
I like proper entry that way in the coming swings i would be able t be in safe entry and start trailing my profit. I look forward to more conversations.
  • #505
  • Jun 6, 2011 2:07am Jun 6, 2011 2:07am
Price came down to 10 pips before taking our stop loss, on the eur/yen, and then turned back up . This is a matter of putting stops at pivot levels, but mostly mastering emotions. Doing some daily meditation will greatly enhance our trading performance…Also knowing your currency pair behavior is your top trading strategy. I’m listening at soft music right now to cool down a little bit my emotions…


reversal on the usd/cad... we know these tricks...



Short usd/cad at 0.9783 sl=0.9824 tp1=0.9734 tp2=0.9712


cheers
Attached Image (click to enlarge)
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  • #506
  • Jun 6, 2011 2:17am Jun 6, 2011 2:17am
no problem Fendi, depending on your trading style and strategy, you will have different entries. but,as you know, we have to trade a strategy we feel comfortable with. I'm also watching these retracement levels, . in case price get there, that great, but sometimes, we can miss it...let's see what the market will say.
  • #507
  • Jun 6, 2011 3:04am Jun 6, 2011 3:04am
i just lost the eur/yen trade. i also cancelled the long entry on the gbp/usd. because pattern is violated
  • #508
  • Jun 6, 2011 4:14am Jun 6, 2011 4:14am
Hello DK
Nice thread - I'll definitely follow along.
One Ive been watching for a while is the eurcad - right on the resistance.
I'll wait for daily candle to close and look for entry.
Attached Image (click to enlarge)
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  • #509
  • Jun 6, 2011 4:27am Jun 6, 2011 4:27am
Patience is the key to success in this business... emotions, trigger happy fingers e.t.c stay cool, opputunities for entry wld approach soon. looking at u.s open, since london brought us down to pivot level. Good luck
  • #510
  • Jun 6, 2011 4:35am Jun 6, 2011 4:35am
thanks to all Fendi and all friends. . Yes, i'm also looking at the u.s open to see if they will bring us some movement. i assume because today is Monday, there is not too much volume in the market. but we never know...

Yebisu, for your short trade on eur/cad, be quick to take your profit, because the weekly candle closed too strongly near that resistance. It may be broken to the upside. And if you look closely, you will see that the close is at the same time the high....still, there are a couple of pips to grab, but quickly...

thanks
  • #511
  • Jun 6, 2011 6:08am Jun 6, 2011 6:08am
i will buy the gbp/yen at 131.83 sl=130.55 tp1=134.00 tp2=136.00

Attached Image (click to enlarge)
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  • #512
  • Jun 6, 2011 10:01am Jun 6, 2011 10:01am
we are down many pips in the gbp/usd trade. because the market made a deep retracement. but there is no need to close this trade. the pair has just completed a perfect 4 hr set up to go long. But let's wait for the total close of the day to pin point the entry...

please, cancel the gbp/yen order. the set up has been violated...

  • #513
  • Jun 6, 2011 2:37pm Jun 6, 2011 2:37pm
i'm keeping all my trades running. the gbp/usd came up with a perfect 4 hr trade

here are the 2 good trades i see for the moment...

buy gbp/usd at 1.6371 sl=1.6274 tp1=1.6450 tp2=1.6500
buy gbp/yen at 131.30 sl=130.76 tp1=132.00 tp2=132.50

if you have to choose only one, i recommend the gbp/usd...it remains the best one. i've placed my orders already....

cheers. hope this crazy usd/cad will follow its own signals...

Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbp.yen.gif Size: 21 KB
  • #514
  • Jun 6, 2011 3:35pm Jun 6, 2011 3:35pm
Saw your quotes, nice one, i cant see us immediately reaching these levels, I have entry at 1.6345 with T.P around 1.6386, i would appreciate if you can put me in the clear how we intend to get to ur t.p1

Quoting dailyking
i'm keeping all my trades running. the gbp/usd came up with a perfect 4 hr trade

here are the 2 good trades i see for the moment...

buy gbp/usd at 1.6371 sl=1.6274 tp1=1.6450 tp2=1.6500
buy gbp/yen at 131.30 sl=130.76 tp1=132.00 tp2=132.50

if you have to choose only one, i recommend the gbp/usd...it remains the best one. i've placed my orders already....

cheers. hope this crazy usd/cad will follow its own signals...

  • #515
  • Jun 6, 2011 6:34pm Jun 6, 2011 6:34pm
ok no pbm...after analyzing the market, i have noticed that the 78.6% is an important resistance level. so i usually take my tp1 there, at this level. sometimes a can take it at the 127% fib level...but the 78.6 fib level is a secure way to protect your gains...


the entry order on gbp/usd is cancelled...pattern violated. please cancel it. i will post the new one when things will set up. i think tonight, we will have some interesting move
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  • #516
  • Jun 6, 2011 7:23pm Jun 6, 2011 7:23pm
buy eur/yen at 117.26 sl=116.46 tp1=118.00 tp2=118.20

happy pips
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  • #517
  • Jun 6, 2011 8:15pm Jun 6, 2011 8:15pm
buy eur/usd at 1.4618 sl=1.4546 tp=1.4700

happy pips
Attached Image (click to enlarge)
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  • #518
  • Jun 6, 2011 9:49pm Jun 6, 2011 9:49pm
Hi DK,

im doing reference to your trades and i guess both you have entered both gbp/jpy and eur/jpy. Good luck !
  • #519
  • Jun 6, 2011 10:10pm Jun 6, 2011 10:10pm
why u cancel G/U order, setup looks good to go already, its just that i dont know if your target and mine match. I have target at 1.400 max, could continue, but i wld continue to analyze d suitation

Quoting dailyking
ok no pbm...after analyzing the market, i have noticed that the 78.6% is an important resistance level. so i usually take my tp1 there, at this level. sometimes a can take it at the 127% fib level...but the 78.6 fib level is a secure way to protect your gains...


the entry order on gbp/usd is cancelled...pattern violated. please cancel it. i will post the new one when things will set up. i think tonight, we will have some interesting move
  • #520
  • Jun 6, 2011 10:47pm Jun 6, 2011 10:47pm
thanks for wishing me good luck. i wish the same for you....

buy gbp/usd at 1.6367 sl=1.6277 tp1=1.6429 tp2= 1.6500
the reversal has started...
Attached Image (click to enlarge)
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